$EOS Short Liquidation. $4.5773K at $0.868 What’s Next.

EOS recently saw a massive short liquidation of $4.5773K at the price of $0.868, and this could signal a potential price movement that traders should watch closely. Let’s break down what might happen next and how you can plan your trades.

What Happened.

A large short liquidation means that many traders who were betting against EOS had to cover their positions due to a sudden price spike. This could create upward momentum as buying pressure increases, pushing the price higher. Short liquidations often lead to sharp price moves, and traders should be alert for potential breakouts or reversals.

What’s Next for EOS.

Possible Upside. If the price of EOS manages to hold above $0.868, it could be setting up for a continuation of the uptrend. Short liquidations often cause price rallies as traders rush to cover their losses.

Support Levels. Look for a support zone around $0.868 or slightly lower ($0.85). If the price consolidates and stays above these levels, there is potential for upward movement.

Buy Zone.

Primary Buy Zone. Around $0.868 – $0.85. If EOS holds above this range, it could signal a continuation upwards.

Secondary Buy Zone. If the price retraces further, the next strong support is around $0.80 – $0.82. This could be a second opportunity to enter with a good risk-to-reward ratio.

Target Profit-taking Zone.

Target 1. $1.00 This is a strong psychological level, and EOS could reach this point as it continues to recover from the short liquidations.

Target 2. $1.10 If the bullish momentum continues, this is a higher resistance zone where you might consider taking profits.

Target 3. $1.20 In the longer term, if EOS breaks through resistance and sustains the uptrend, $1.20 is the next level of interest.

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